Middle east cold war explained

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The Middle East has over half of the world's proven oil reserves. OPEC remains to be the center of gravity in the global oil market, representing some 65% of world oil reserves. The largest producers and exporters are Saudi Arabia accounting for approximately 42% of production, followed by Iran 19%, UAE 11%, Iraq 6%, and Kuwait 11%. 60% of oil exports from the Middle East are intended for Asian markets. The region supplies about one quarter of crude oil to the United States. Considering that oil remains the strategic resource and is the fastest growing primary energy source in the World, what is going to be economic impact of political unrest in the Middle East? Would the US get involve into the region's proxy wars in the upcoming years?

Reference no: EM132906411

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